RESOLUTION
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS PINEDA-ISAAC, DIAZ, AND HODGES:
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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF YONKERS AUTHORIZING APPLICATION OF THE STATUTORY EXEMPTION PURSUANT TO REAL PROPERTY TAX LAW SECTION 422
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WHEREAS, the City of Yonkers (the “City”) is tasked with the responsibility and burden to promote the health, safety and general welfare of the residents of the City by and among other things preventing unemployment and economic deterioration including by increasing and maintaining employment opportunities and attracting and sustaining economically sound commerce; and
WHEREAS, Section 422 of the New York State Real Property Tax Law (“RPTL”) provides that projects owned by certain not-for-profit corporations organized pursuant to the New York State Not-for-Profit Corporation Law (“NPCL”) are exempt from general taxation (“422 Exemption”); and
WHEREAS, certain limited profit corporations organized pursuant to Article 2 of the Private Housing Finance Law as a Not-for-Profit Mitchell Lama entity, which provides housing and auxiliary facilities exclusively for aged persons of low income, qualify for the 422 Exemption; and
WHEREAS, Sacred Heart Housing Corporation (“SHHC”), as fee owner of Finian Sullivan Tower, located at 1 Father Finian Sullivan Drive, Yonkers, New York ( Section 2, Block 2172, Lot 20 on the Official Tax Map of the City of Yonkers), is such a Not-for-Profit Mitchell Lama entity for senior Mitchell Lama purposes and accordingly, the SHHC , on behalf of the Father Finian Mitchell Lama Project has provided the attached letter certifying that it meets the conditions for an exemption from real property taxes based on its ownership and use as a Mitchell Lama subsidized and regulated housing entity and facility; and
WHEREAS, in accordance with the requirements of RPTL, the Section 422 Exemption is applicable to the Father Finian Mitchell Lama Project and should accordingly be classified as statutorily exempt on the City of Yonkers Assessment Roll; and
WHEREAS, the City of Yonkers, generally, finds that adoption of a formal local policy recognizing RPTL Section 422 will assist the City Assessor in the consistent administration of property tax exemptions while protecting the City’s fiscal integrity and ensuring exemptions are only granted where legally required; and
WHEREAS, the City Council of the City of Yonkers (“City Council”) further desires to authorize the City Assessor to keep the Father Finian Mitchell Lama Project on the tax-exempt roll without interruption.
NOW, THEREFORE, BE IT RESOLVED, the City of Yonkers hereby recognizes the real property tax exemption authorized by RPTL Section 422, as amended, for real property located within the City that qualifies under said statute, and be it further
RESOLVED, so long as eligibility for the RPTL Section 422 Exemption be maintained, the City Assessor shall code the Father Finian Mitchell Lama Project as exempt while requiring annual recertifications of continued eligibility by the property owner SHHC including but not limited to: proof of nonprofit status, operational and occupancy information, use of the property and financial or regulatory findings necessary to confirm compliance; and be it further
RESOLVED, any other similarly situated property may likewise present a letter of justification to the City Assessor, with eligibility for exemption to be determined on a parcel-by-parcel basis, in accordance with state law and subject to City Council action before any exemptions are recognized; and be it further
RESOLVED, transfer of the Father Finian Mitchell Lama Project from its current exemption under RPTL Section 412-a to an exemption pursuant to RPTL Section 422 shall be treated as an exempt to exempt transfer effective upon filing; and
RESOLVED, that this Resolution shall take effect immediately.